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Month: June 2021

Rapper Yo Gotti pays $8M for Westlake Village mansion

Yo Gotti (Getty) with 1051 Candlecrest Drive (Redfin) Rapper and record executive Yo Gotti paid $7.6 million for a Westlake Village mansion. The Memphis native — real name Mario Mims — bought the property at 1051 Candlecrest Drive from ...

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  • 15 Jun
  • The Real Deal
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Waterford Property pays $335M for 2 Pasadena rental complexes

Residences at Westgate, The Hudson and Waterford co-founder John Drachman (Waterford Property Company, the CSCDA) Waterford Property Company has been on a multifamily buying binge, and has partnered up with the California Statewide ...

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  • 15 Jun
  • The Real Deal
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Homebuilder sentiment slides to 10-month low in June

Confidence is lowest in the Northeast and Midwest, at 73 and 70. (iStock) The National Association of Home Builders/Wells Fargo Housing Market Index — which tracks homebuilder confidence in current and future single-family home sales ...

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  • 15 Jun
  • The Real Deal
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Opendoor expands to Miami, 5 additional markets

Opendoor CEO Eric Wu (Getty, Opendoor) As Opendoor hits a new milestone, the iBuyer is rolling out its operations in six new cities. Effective Tuesday, the company announced that it is now doing business in South Florida — including ...

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  • 15 Jun
  • The Real Deal
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Editor’s note: High stakes, short memories

Stuart Elliott Developers are eternal optimists. And forgetful masochists. These gruff street fighters of the real estate world often must buck the consensus view, time the market perfectly and take reputational and financial risks ...

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  • 14 Jun
  • The Real Deal
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Dear Mr. President: Landlords urge Biden to let eviction ban expire

President Joe Biden (Getty/Illustration by Kevin Rebong for The Real Deal) Throughout the pandemic, landlords and real estate trade groups have filed lawsuits seeking to end the federal eviction ban. So far, none has succeeded. Now, ...

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  • 14 Jun
  • The Real Deal
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Washington Prime Group files for Chapter 11 bankruptcy

Washington Prime Group CEO Lou Conforti (Twitter) In November, with mall owners getting crushed, Washington Prime Group CEO Lou Conforti said that bankruptcy was off the table. But in March, it was reported that the mall REIT was ...

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  • 14 Jun
  • The Real Deal
  • Uncategorized
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Meet the 20-somethings funneling their crypto millions into real estate

After the 2008 financial crisis, middle schooler Hank Wu traveled with his parents every weekend to places such as Las Vegas and Florida to scout for investment properties. In high school, he found a new, more exciting investment ...

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  • 14 Jun
  • The Real Deal
  • Uncategorized
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Related Group’s condo kings expand their realm

Jorge, Jon Paul and Nick Pérez (Photos by Studio Scrivo) Getting burned twice in Las Vegas didn’t kill Related Group’s dream of national expansion. But it taught the megadeveloper the importance of boots on the ground. Miami condo king ...

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  • 14 Jun
  • The Real Deal
  • Uncategorized
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Pandemic squeeze forces Abu Dhabi fund to reassess real estate exposure

Hamed bin Zayed Al Nahyan (Getty) Abu Dhabi’s sovereign wealth fund may be having second thoughts about its real estate investment strategy as the pandemic ravages certain asset classes. The Abu Dhabi Investment Authority, one of the ...

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  • 14 Jun
  • The Real Deal
  • Uncategorized
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